For the lemon-red Fresno butter: Put the lemon juice in a small saucepan and bring to a boil over high heat. Cook until reduced to 1/4 cup. Stir in the honey. Let cool.
Add the butter and zest to the reduced lemon juice and mix until smooth. Fold in the chiles and season with salt and pepper. The butter will keep in the refrigerator, covered, for up to 1 week.
For the grilled lobster tails: Bring a large pot of salted water to a boil. Add the lobster tails and boil for 4 minutes. Remove and drain well. Split each lobster tail lengthwise down the underside with a heavy knife, taking care not to cut through the back shell, so that the lobster is still in one piece but the inside is exposed.
Heat a charcoal grill to medium-high heat.
Brush the lobster flesh with oil and sprinkle with salt and pepper. Place the tails flesh-side down on the grill and grill until slightly charred, about 3 minutes. Flip over, brush with a generous amount of lemon-red Fresno butter, and continue grilling until just cooked through, 2 to 3 minutes, brushing with butter throughout.
Remove from the grill to a platter, flesh-side up. Top with a little more butter, some cilantro leaves and lemon zest.
Recipe courtesy of Bobby Flay